MKM Partners Analysts Cut Earnings Estimates for D.R. Horton, Inc. (DHI)
D.R. Horton, Inc. (NYSE:DHI) – Equities researchers at MKM Partners reduced their FY2017 earnings per share (EPS) estimates for shares of D.R. Horton in a note issued to investors on Wednesday. MKM Partners analyst M. Mcgrath now expects that the construction company will earn $2.69 per share for the year, down from their prior estimate of $2.75. MKM Partners also issued estimates for D.R. Horton’s Q4 2017 earnings at $0.77 EPS, Q4 2018 earnings at $0.89 EPS and FY2018 earnings at $2.92 EPS.
A number of other research analysts have also recently issued reports on the stock. KeyCorp reiterated a “buy” rating and issued a $41.00 target price on shares of D.R. Horton in a research note on Tuesday, September 26th. Wells Fargo & Company reiterated an “outperform” rating and issued a $41.00 target price (up previously from $39.00) on shares of D.R. Horton in a research note on Monday, July 10th. Wedbush reiterated an “outperform” rating on shares of D.R. Horton in a research note on Saturday, September 16th. Royal Bank Of Canada reiterated a “buy” rating and issued a $42.00 target price on shares of D.R. Horton in a research note on Monday, September 25th. Finally, BidaskClub upgraded shares of D.R. Horton from a “sell” rating to a “hold” rating in a research note on Monday, August 14th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. D.R. Horton currently has a consensus rating of “Buy” and an average target price of $36.85.
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Shares of D.R. Horton (DHI) opened at 40.62 on Friday. The firm has a market capitalization of $15.20 billion, a PE ratio of 15.22 and a beta of 1.24. The stock’s 50 day moving average price is $37.08 and its 200-day moving average price is $34.96. D.R. Horton has a 12 month low of $26.69 and a 12 month high of $41.06.
D.R. Horton (NYSE:DHI) last announced its quarterly earnings data on Wednesday, July 26th. The construction company reported $0.76 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.01. D.R. Horton had a return on equity of 14.19% and a net margin of 7.38%. The firm had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.71 billion. During the same quarter in the prior year, the firm posted $0.66 earnings per share. D.R. Horton’s revenue for the quarter was up 17.0% compared to the same quarter last year.
D.R. Horton declared that its board has initiated a stock buyback plan on Wednesday, July 26th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the construction company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.
In other D.R. Horton news, Director Barbara K. Allen sold 1,666 shares of the stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $36.03, for a total transaction of $60,025.98. Following the transaction, the director now owns 7,316 shares in the company, valued at approximately $263,595.48. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Bradley S. Anderson sold 10,000 shares of the stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $37.46, for a total transaction of $374,600.00. Following the transaction, the director now owns 36,828 shares in the company, valued at approximately $1,379,576.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,666 shares of company stock worth $912,606. 7.20% of the stock is owned by company insiders.
Several large investors have recently made changes to their positions in the business. Lord Abbett & CO. LLC boosted its position in shares of D.R. Horton by 16.7% during the 2nd quarter. Lord Abbett & CO. LLC now owns 165,000 shares of the construction company’s stock worth $5,704,000 after acquiring an additional 23,600 shares in the last quarter. Toronto Dominion Bank lifted its stake in D.R. Horton by 23.7% in the 2nd quarter. Toronto Dominion Bank now owns 120,832 shares of the construction company’s stock valued at $4,177,000 after purchasing an additional 23,143 shares during the last quarter. Cetera Investment Advisers bought a new position in D.R. Horton in the 2nd quarter valued at approximately $216,000. Advisory Services Network LLC lifted its stake in D.R. Horton by 131.9% in the 2nd quarter. Advisory Services Network LLC now owns 3,956 shares of the construction company’s stock valued at $137,000 after purchasing an additional 2,250 shares during the last quarter. Finally, Public Employees Retirement System of Ohio lifted its stake in D.R. Horton by 0.3% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 217,005 shares of the construction company’s stock valued at $7,502,000 after purchasing an additional 565 shares during the last quarter. Hedge funds and other institutional investors own 82.29% of the company’s stock.
About D.R. Horton
D.R. Horton, Inc is a homebuilding company. The Company constructed and sold homes in 27 states and 79 markets, as of September 30, 2015. The Company’s segments include its 39 homebuilding divisions, its financial services operations and its other business activities. In the homebuilding segment, the Company builds and sells single-family detached homes and attached homes, such as town homes, duplexes, triplexes and condominiums.
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